Accounting Information Reporting Strategy Private Enterprises and the Efficiency of Securities Market Regulation
Using firm-year observations of companies listed on Shanghai and Shenzhen Stock Ex-changes in China over the period 2003 to 2021,this paper deeply investigates the effect of the suspicion of"original sin"on the choice of accounting information reporting strategy of private enterprises and its ef-fectiveness.Results show the suspicion of"original sin"is significantly negatively related to the quality of accounting information disclosed by private enterprises,and this negative correlation is much more evi-dent in private enterprises facing higher pressure of"original sin".Shanghai and Shenzhen Stock Exchan-ges and CSRC can effectively identify the low accounting information reporting behavior of private enter-prises,and give them corresponding inquiries and penalties.Additional analysis reveals that the improve-ment of the level of property rights protection in a region will help reduce the low accounting information reporting strategies used by private enterprises.
suspicion of"original sin"reporting strategy of accounting informationinquiries of exchange stocksregulation of CSRC
国家科技期刊平台
NSTL
万方数据
